A pricing analyst studies price trends and data to determine the feasibility of purchasing a product and establish price targets for reselling. There are various types of pricing analyst jobs, including those in retail, senior positions, working with clients, and industry-specific roles. One person may perform multiple pricing analyst jobs, as well as other responsibilities.
A pricing analyst is a professional who compiles, studies and analyzes price trends and statistical data to calculate the feasibility of purchasing a particular product and establish price targets for reselling items to consumers or businesses. This basic job description is part of several pricing analyst jobs, each with its own variations and specialties.
One such pricing analyst job involves any pricing analyst working for a retail store or manufacturer. This person’s job is to investigate manufacturer costs, development costs, and research competitors’ prices to determine market trends with a particular item or product. He can also negotiate transactions with suppliers. This can include haggling for a better price, developing partnerships and securing contracts.
Senior pricing analysts are another important part of any sales team. As compared to other price analyst jobs, these people have more responsibilities. A senior pricing analyst’s job is to supervise other pricing analysts on their team, assist with new product research, and direct members in separate divisions on what items to review. This position is mostly available in large companies that handle multiple transactions simultaneously.
Another of the pricing analyst jobs involves working directly with clients or clients. This person can help clients price products or services, help them add up total costs for larger projects, send invoices after project completion, and watch buying trends within the confines of the company they work for. It may also be necessary to advise senior staff or owners on which items to raise prices, which to lower and which to keep at current prices.
Pricing analyst jobs can also be classified by industry. For example, a clothing pricing analyst is someone who works at a dry cleaning company and tracks customer orders, competitor pricing, and buying habits. There are also pricing analyst jobs in clothing stores, publishing, and just about any other industry where products are bought and sold.
Additionally, it is not uncommon to have one person performing multiple pricing analyst jobs at once, as well as accounting, customer service, or sales responsibilities. In many cases, especially in small and medium-sized businesses, the owner or manager can act as all these professionals in one.
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